HomeMy WebLinkAbout2485 +l '
f
. ~
i '
1
! '
corpus sold or disposed of was previously held, irrespective of
whether or not said corpus was income producing during the time
held in trust. All determinations made by the Trustee in good
faith as to what shall constitute sound and established trust
accounting principles shall be final, conclusive and binding upon
all persons (whether in being or not) then or thereafter in-
terested in the income and/or principal of any trust hereunder
and the Trustee shall not in any manner be held liable to any
such person as a result of its determination. It is the Grantor's
intention in creating the trusts hereunder to primarily benefit
the income beneficiaries and the Grantor requests the Trustee, in
resolving doubtful matters relating to allocation between income
and principaZ, to take such fact into consideration.
ARTICLE ~I
This trust shall be operative with respect Co such
policies of life insurance on Grantor's life as may at the time
of his death, or at any time subsequent thereto be due and
payable to the Trustee under this Agreement, and the Grantor
reserves unto himself during his lifetime, any and all net income
which shall accrue thereunder, together with aIl incidents of
ownership, payments, dividends, surrender values and benefits of
any kind which may accrue on account of any of the aforesaid
policies, and the right at any time to assign, pledge or use said
policies or any of them or to change the beneficiary thereof, and
aoox674 ~~E2485
-23-
~